The bullish outlook provided last night. His Majesty Wanjian strongly pushed up to the high level of 76400. And now a pullback has occurred. Currently, the price is running near 75700.
From a technical structure perspective, on the four-hour level, after the opening of the running channel, the price failed to maintain above the upper track for continuation, forming a震荡修整 that caused a significant pullback, with volume arranged in a contraction state failing to support release. The moving averages are also showing a reversal due to adhesion, with a clear high-pressure emergence in the small cycle. Under strong upward momentum, a certain amount of consolidation and bottom formation is needed, and the lower space awaits further probing. On the one-hour level, the price's high-level fluctuations are difficult to stabilize, directly leaking from the high level towards the lower track, and the bearish volume is showing a solid arrangement release, leading to a consistent turning of the moving averages. After a downward spike, there is a certain recovery effect, but it is a normal repair after a pullback. The demand for short-term adjustment and retracement is showing strong performance, and our upcoming strategy focuses on conducting high shorts.
Operation Suggestions
Short Bitcoin near 76000 Target 74500
Short Ethereum near 2730 Target 2660
